Assume you have a 15 year mortgage for $350,000 with a 3.5% rate with monthly payments. To get the loan at the terms stated, the lender is charging loan discount points of 2%. You plan on paying off the loan at the end of 5 years (month 60). What is the effective rate of the loan assuming the early payoff? Please answer to the 4-decimal point level expressed as whole number (example: 7.58% would be 7.58), do not use the % sign)